RE: Launch sale11 Mar 2025 21:38
For the removal of doubt.
https://www.divestopedia.com/definition/5786/closing-condition
Divestopedia Explains Closing Condition
Closing conditions are found in a purchase and sale agreement whereby both the target and acquirer have conditions that must be met or waived, and may also include joint conditions. Conditions may include any of the following:
Provision of closing certificates that state representations and warranties have been satisfied by both parties
Provision that each party’s representations and warranties are valid as of the closing and/or signing date
Approval by governmental authority for the transaction to take place, if applicable
Provision of fully executed ancillary documents by both parties
Condition by the seller that the buyer has met the purchase price
Deal specific conditions by the buyer that specific issues are addressed, such as pending liabilities
Joint condition that no pending litigation would prevent the deal from closing
Buyer condition that the seller obtains consent from third parties, such as suppliers
Joint condition that the transaction is legal by law
The two parties must reach agreement on the day.
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RNS 26.06.2024 - Portfolio Update
"The transfer of the Affimer® screening technology to the Coris operations in Belgium has enabled the Group to close the Wetherby laboratory facilities, resulting in operational cost savings."
Transcript of Shareholder meeting London 27.06.24
[01:33:59.230]-Christina Coughlin
"....Wetherby was essentially Avacta’s therapeutics, it did hold one key piece of IP, which is the use of that affirmer and antibody link within a diagnostic. We actually just had an IP meeting last night, to be honest with you. And this is what one of the questions is, where does that IP go? As you saw in the RNS, that is with Coris right now. They are the company that we purchased. The goal was to implement the Affimer IP lateral flow test..."
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Avacta must have moved this IP out of Coris.